Search Results for keywords:"temporary rule change"

Found 2 results

Search Results: keywords:"temporary rule change"

💰 Only

Oldest Newest

2020-29220 — Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 3100, Registration Requirements, To Adopt Temporary Interpretation and Policy .13 (Temporary Extension of the Limited Period for Registered Persons To Function as Principals)
January 06, 2021
Type:Notice
Citation:86 FR 633
Reading Time:about 17 minutes
MIAX PEARL, LLC, filed a proposed rule change with the Securities and Exchange Commission (SEC) to temporarily extend the period during which certain individuals can function as principals without passing a qualification exam due to COVID-19 disruptions. This rule change would allow these individuals to serve in principal roles until April 30, 2021, instead of the usual 120-day period. The SEC agreed to waive the usual 30-day waiting period for such rule changes, allowing it to take effect immediately, as it helps members manage personnel challenges during the pandemic without significant impact on investor protection.
Simple Explanation
MIAX PEARL, LLC, is letting people do special jobs without a test for a little longer because the virus made it hard to take tests. The rule change lets them do these jobs until April 30, 2021, so companies can keep going without problems.
2020-29131 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Add Commentary .07 to Rule 7.35A To Provide That, for a Temporary Period, the Exchange Will Permit DMMs Limited-Entry to the Trading Floor or Remote Access to Floor-Based System for Certain Auctions
January 05, 2021
Type:Notice
Citation:86 FR 335
Reading Time:about 15 minutes
The New York Stock Exchange (NYSE) filed a temporary rule change with the Securities and Exchange Commission (SEC) to accommodate Designated Market Makers (DMMs) due to COVID-19 restrictions. The change allows DMMs limited access to the trading floor or remote access to NYSE systems until either the trading floor fully reopens or April 30, 2021. This adjustment is meant to support efficient trading during significant pricing events like a corporate action or a Direct Listing Auction, ensuring fair and orderly markets despite the temporary closure of the physical trading floor. These measures are intended to maintain transparency and allow issuers to continue listing via Direct Listings while operations are remote.
Simple Explanation
The New York Stock Exchange is letting special traders called Designated Market Makers do their work from home or have a little bit of time on the trading floor because of COVID-19. This change is temporary, just to make sure everything runs smoothly until things get back to normal or until the end of April 2021.

Showing 1 to 2 of 2 results